Financial investigations & forensic inquiry

Services

Attorneys-at-law with FBK Legal Financial Investigations and Forensic Expertise practice offer the following types of services for identifying abusive acts in your company. read more >
Our experts conduct forensic economic examination in the following areas: read more >

Clients

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  • It has a very good and steady reputation, and is comfortable to work with

    Chambers Europe

  • Quickly gets to the root of the problem, helping the client understand any complex or unusual situations

    The Legal 500 EMEA

Cases

The branch was publishing a newspaper using funds allocated by the parent company. However, the parent company management received information on inappropriate disbursement of funds. In the meantime, the newspaper circulation was already available and head of the branch already submitted supporting evidences.

An investigation has been completed on behalf of the parent company. Samples of issued printed products were obtained; examination of paper, printing technology, printing materials was completed. Upon completion of a technical and economic assessment, we identified that the market value of those resources was at least half as much compared to that specified in the supporting evidences. Whereas the details required to identify the funding volume to issue the newspaper were submitted by the head of branch. Eventually, we have determined that owner of the company, which received the contract for issuing printed goods, was a relative of the head of branch. Thus we have proven the fact of overstating expenses and embezzlement of funds by branch officers.

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During the bankruptcy procedure one of the creditors (a related party to the management company of the debtor) submitted a claim to the debtor arising from the note purchase agreement. The agreement has been submitted along with the transfer notice based on which securities were handed over (blank endorsement). Subsequently these notes were sold with a significant payment grace period.

On bankruptcy manager request an investigation was carried out which identified that notes containing the bank details specified in the agreement had been in fact issued by a major bank and were cleared. Having tracked down the chain of owners, our specialists determined that the creditor has never been the owner of these notes. Thus the note sale transaction turned to be an imaginary one and its only objective was to create an artificial bankruptcy case and initiate a premeditated bankruptcy case.

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During compliance assessment of a company operating in the construction sector shareholders alleged that allocated funds were disbursed for unauthorized purposes. During the investigation we obtained the confirmations of overstating the scope of works completed, duplication of works along with the facts of non-compliance with the established requirements for completion of construction works. The scope of evidences gathered was sufficient to relieve the manager in charge of the construction of duties and initiate a criminal case against him. hide
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Providing advice and other services in the area of corporate legislation  of the Russian Federation, in particular, on matters of employing corporate and other methods of protection in compliance with the current legislation presenting counter measures to illegal takeover, hostile takeovers and other forms of establishing control over the corporate structures or impeding the management process of the latter by third parties. hide
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Within the scope of the arbitrary dispute between Ministry of Finance of the Russian Federation and municipal enterprises of Ekaterinburg based on the ruling of the Moscow Arbitrary Court specialists of the Forensic Research Practice completed an economic and mathematical forensic research study. The subject matter of the dispute was payment of a compensation for transportation of reduced-fair passengers payable from the national budget of the Russian Federation. The experts concluded that applied method statements for calculating the amount claimed were unreasonable. Based on the results of the forensic research the complainants reduced the amount of claims to half. hide
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During one of the legal proceedings a tax authority recognized commission agreements as simulated, qualified the transaction as act of purchase and sale and charged the taxpayer for additional tax amounts by a thousand-fold. A forensic study on transactions and calculations of various arrangements of company’s operations have shown that application of the appropriate accounting policy the taxpayer was allowed to arrange for the company's operations based on the terms of sale and purchase agreements with the same tax effects as in case of commission arrangements with counter parties. Thus it has been proven that application of commission arrangements did not have the purpose of evading taxation by the taxpayer. Moreover, the transactions underwent the procedure of qualification under the civil law, which confirmed the compliance of actual legal consequences with the terms of a commission agreement.
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During the arbitrary dispute involving a major tobacco company and a tax authority we completed an economic and mathematical forensic research. The subject of the forensic research were transactions recorded in the subsidiary accounts and gave cause to charging VAT and income tax to the amount comparable to the annual revenue of the group. The Moscow Arbitrary Court found unlawful holding the entity liable for tax offences based on the results of the tax inspection. hide
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FBK Legal specialists provided an expert opinion on a legal case involving accusations of a construction company managing director (the city of Ufa) of evading the uniform social tax on the large scale. According to the opinion, the case papers do not contain correct method statements of and compliant with the regulatory requirements calculations of the outstanding amount of the uniform social tax along with the large-scale of tax evasion. Taking into account the above mentioned opinion the court has found the defendant not guilty. hide
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Carrying out the approved procedures to identify among the significant account receivables groups where it is advisable to allocate reserves for doubtful accounts in compliance with the Russian Accounting Standards and write off uncollectable debts in compliance with the Russian Accounting Standards on significant account receivables of the companies being part of a group. hide
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Investigating a system of operations for the stripping of assets from a metallurgical holding. Identification of law violations in these operations and guilty persons. hide
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An oil company made a claim of Rosreserv (Federal Agency for Governmental Reserves) to recovery the Plaintiff’s costs for the storage of a governmental reserve in the form of oil products. The cassation court, having agreed with the legal requirement of the Plaintiff to get a proportional reimbursement of expenses to ensure the security of the governmental reserve, suggested the first instance court considering the forensic study of Plaintiff’s documents evidencing the expenses. The study was entrusted to FBK upon the consent of the parties. The claim was satisfied in view of the forensic study results. hide
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Investigation of financial flows in one of the largest foreign companies operating in Russia was done in the frame of arbitration to define the validity of the tax authority claims against the company. The analysis of millions of transaction was to be made to identify why the company was borrowing funds – for business purposes or for lending to counterparties.  The conclusion of experts was necessary to define the validity of the profit tax base reduction by the amount of interest on the loan. The economical and mathematic analytical methods allowed proving that the payment for borrowed funds was rightfully attributed to costs of the company. hide
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